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Apple Stock Slid in Morning Trading As Wedbush Checks Show Major IPhone Shortages

Tiger Newspress2022-11-28

Apple shares fell 1.4% in morning trading as investment firm Wedbush Securities conducted store checks on Black Friday that showed "major" iPhone shortages across the board.

Analyst Dan Ives, who has an outperform rating and a $200 price target on Apple (AAPL), noted that iPhone 14 Pro shortages look to have gotten "much worse" over the last week, citing low inventories across the board.

"We believe many Apple Stores now have iPhone 14 Pro shortages based on model/color/storage of up to 25%-30% below normal heading into a typical December, which is not a good sign heading into holiday season for Cupertino," Ives wrote in a note to clients.

He added that wait times for a new iPhone 14 Pro are now up to 40 days on Apple's website and is only likely to grow over the coming days going into Christmas.

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Comment11

  • JCai
    ·2022-11-29
    K
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    • JCai
      k
      2022-11-29
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  • MeowTamara
    ·2022-11-28
    Shortage also means good sales, surplus is something that I would be worried more
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    • MeowTamara
      Good luck
      2022-12-05
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    • MeowTamara
      Hinting as always the retail investors fault
      2022-11-29
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    • Irene104
      Ok
      2022-11-29
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    View more 2 comments
  • carroll
    ·2022-11-28
    Hi
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    • carroll
      Halo
      2022-11-28
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  • Henryee18
    ·2022-11-28
    Oh no.....
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  • OO_898
    ·2022-11-28
    Like 
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  • Koco
    ·2022-11-28
    Nice
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  • PYX
    ·2022-11-28
    Like 
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    • Toastz
      Ok
      2022-11-28
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    • PYX
      k
      2022-11-28
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  • CynthiaGho
    ·2022-11-28
    Like pls
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  • CTSM
    ·2022-11-28
    Thanks for the update!
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  • 玉树临风英俊
    ·2022-11-28
    👌 
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  • psion
    ·2022-11-28
    LIke and comment pl
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